GIFA Obtains New Stock Trading Symbol
SAN DIEGO, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Gifa, Inc., a Nevada corporation ("GIFA," the “Company,” “we,” and “our”) is pleased to announce that effective at the opening today, our trading symbol on the US OTC has changed from FRFS to GIFX.
“We are very pleased with the corporate development of GIFA during the past one year. With the edgarization of its financials, FINRA’s approval of the name change and now ticker symbol change, we are well on our way. No action is required to be taken by current shareholders in connection with the change, and no change has been made to GIFA’s share capital. There is no change in its CUSIP number.” said CEO Ilksen Yesilada.
About Gifa, Inc.
We are a small company and we were originally incorporated in the State of Nevada on April 29, 2008 under the name Firefish, Inc. Since April 2008 and through our wholly-owned subsidiary domiciled in India (the “Subsidiary”), we have offered mobile and internet marketing services to retailers and educational services to young learners and young adults. We also host an annual English, Math and Science competency competition referred to as the Primary Olympiad. All of our services are currently offered only in India. In India our offices are located in Mumbai, India. We built a robust social networking platform with wide ranging features. We also developed two ancillary lines of businesses that leveraged our user base and developed expertise within our target market (1) text message advertising services to retailers wishing to market their services to our social networking community and (2) educational services to current and potential members of our social networking community such as English language training/certification and English competency competitions. Under our existing business, our current revenues are chiefly derived from text message advertising services to retailers, competition entry fees for English, Math and Science competency competitions and consulting fees for Englsh language training/certification services.
On September 26, 2017 we completed certain changes that resulted in the election of Mr. Ilksen Yesilada and Mr. Yusuf Kisa as Directors of the Company. As a result, an aggregate of 66,550,660 shares of our Common Stock that were originally issued to our founder were returned to the Company as treasury stock. We also issued an aggregate 100,000,000 shares of common stock to persons associated with Mr. Yesilada and later filed an Amendment to our Articles of Incorporation to change the Company’s name to GIFA, Inc. and to reduce the number of authorized Common Stock to 500,000,000 shares and to authorize 10,000,000 shares of Preferred Stock.
In recent months we also filed our 2016 Annual Report on Form 10-K and certain Quarterly Reports on Form 10-Q with the Securities and Exchange Commission. As reported in the Annual Report, we anticipate that we will undertake contemporaneous negotiations with the Company’s founder that if successful will allow the Company to divest the Subsidiary (the “Divestiture”) and to allow the Company to acquire GIFA Holding Limited (the “Acquisition”). The terms and conditions of the planned Divestiture and the planned Acquisition have not been finalized but we anticipate that if we are successful in completing these negotiations, we will likely focus our resources solely upon the business currently conducted by GIFA Holding Limited. We cannot assure you that we will be successful in any of our negotiations relating to either or both of these contemplated transactions.
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING ESTIMATES, PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, PERFORMANCE OR PRODUCTS, UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. IN SOME CASES FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING WORDS SUCH AS “ESTIMATED,” "BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD," OR "ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE WORDS OR COMPARABLE WORDS, OR BY DISCUSSIONS OF PLANS OR STRATEGY THAT INVOLVE RISKS AND UNCERTAINTIES. MANAGEMENT WISHES TO CAUTION THE READER THAT THESE FORWARD-LOOKING STATEMENTS, INCLUDING, BUT NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY AND ITS PLANS OR INTENTIONS, ESTIMATES, GOALS, COMPETITIVE TRENDS AND OTHER MATTERS THAT ARE NOT HISTORICAL FACTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT OR THAT THE ANTICIPATED FUTURE RESULTS WILL BE ACHIEVED. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS OR AS A RESULT OF OTHER RISKS FACING THE COMPANY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS SET FORTH HEREIN AND THOSE SET FORTH IN OUR MOST RECENT FORM 10-K, INCLUDING, BUT NOT LIMITED TO "THE FACTORS THAT MAY AFFECT FUTURE RESULTS" SHOWN AS ITEM 1A IN OUR FORM 10-K AND THE RISKS ASSOCIATED WITH AN EARLY-STAGE COMPANY THAT HAS LIMITED ASSETS AND OPERATIONS, THE COMPARATIVELY LIMITED FINANCIAL RESOURCES OF THE COMPANY, THE INTENSE COMPETITION THE COMPANY FACES FROM OTHER ESTABLISHED COMPETITORS, AND THE LEGAL UNCERTAINTIES THAT DIRECTLY AND INDIRECTLY IMPACT DEVELOPMENT-STAGE COMPANIES. ANY ONE OR MORE OF THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED, EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THIS PRESS RELEASE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.
For further information contact:
William M. Aul
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